Author: Legal Parivar

IIFL Finance witnessed a notable surge of over 5% in its share price, reaching Rs 495 per share on June 18. This increase followed the company’s announcement that it had rectified all deficiencies highlighted by the Reserve Bank of India (RBI) regarding its gold loan portfolio. In their Q4 investor presentation, Nirmal Jain, Founder of IIFL Finance, stated, “The special audit has been completed, and we now await the RBI’s review and expect positive action soon. The business environment remains healthy, and we are optimistic about the outlook for all our other business segments.” Earlier this year, the RBI had…

ixigo made a strong debut on the stock exchanges today, with its share price opening at ₹138.10 on NSE, marking a 48.5% increase from its issue price of ₹93. On BSE, ixigo shares opened at ₹135, reflecting a 45.16% rise from the issue price. Market experts had anticipated the opening price to be in the range of ₹120 to ₹125 per share. During its three-day subscription period, Le Travenues Technology’s IPO, which operates ixigo, received overwhelming investor interest, with the issue being subscribed 98.34 times on the final day of bidding.

M&M’s stock price surged over 2% to reach a record high on Tuesday, driven by analysts maintaining their bullish outlook. Shares of Mahindra & Mahindra (M&M) rallied by as much as 2.71% to ₹3,006.45 on the BSE. During its Investor Day presentation, M&M announced plans to introduce 23 new vehicles by 2030, including several new SUVs. The company highlighted an increase in its SUV market share from 15% in FY21 to 18% in FY24. M&M also unveiled plans to launch seven Born Electric Vehicles (BEVs) by the end of the decade, showcasing three feature-rich models (E8, E9, BE.5) with high…

Paras Defence and Space Technologies witnessed a significant surge, jumping 19% to reach a record high of Rs 1373.80 following a substantial equity deal on June 18. Approximately 7.06 lakh shares exchanged hands at an average price of Rs 1,252 in this large transaction. The deal, executed at an approximate 8% premium over the previous closing price, amounted to Rs 88.7 crore in total. The parties involved in the transaction were not immediately identified by Moneycontrol. As of 09:34 am, Paras Defence shares were trading slightly below their peak for the day, at Rs 1,347 on the NSE.

Nifty and Sensex reached new record highs in early trading on June 18, with gains of 0.25 percent each. Leading the upward momentum were indices like Metal stocks, PSU banks, and IT, while Healthcare and Pharma sectors saw declines. By 9:20 am, the Sensex had risen by 195 points to reach 77,187, while the Nifty climbed 69 points (0.29 percent) to 23,534. Market breadth showed 2,193 advancing stocks, 734 declining stocks, and 156 unchanged. Top gainers on the Nifty included Wipro, Adani Enterprises, M&M, Titan Company, and Adani Ports, while Maruti Suzuki, Dr Reddy’s, Divis Laboratories, Kotak Mahindra Bank, and…

Advance tax collections for the period up to June 16 of FY25 have surged by 28 percent compared to the same period last year, totaling Rs 1.48 lakh crore, as reported by sources to business channel ET Now. Corporate tax collections reached Rs 1.6 lakh crore, while personal income tax receipts amounted to Rs 3.79 lakh crore from April 1 to June 16, according to ET Now. Gross tax receipts for this period have reached Rs 5.15 lakh crore, reflecting a substantial year-on-year growth of 22.89 percent. Advance tax is essentially tax paid before the end of the financial year,…

Life Insurance Corporation of India (LIC) is planning to raise $6-7 billion by selling its plots and commercial buildings, according to a report by Livemint. The insurance giant has assembled an internal team to devise a sale plan for its real estate assets across the country, starting with Mumbai, sources cited in the report said. This asset monetisation plan comes as the state-run insurer faces increasing competition from the private sector, impacting its market share. Some of LIC’s premium assets include the Jeevan Bharti building in Delhi’s Connaught Place, the LIC building on Chittaranjan Avenue in Kolkata, and buildings housing…

Multibagger stock Hindustan Aeronautics (HAL) saw its share price surge over 5% in early trading on Tuesday, reaching 52-week highs. This spike followed news about government tenders for Light Combat Aircraft. HAL shares, which have already provided multibagger returns by gaining over 170% in the past year, also reached an all-time high today. In a statement to the exchanges, HAL announced, “The Ministry of Defence has issued a Request for Proposal (RFP) for the procurement of 156 Light Combat Helicopters (90 for the Indian Army and 66 for the Indian Air Force).”

On June 18, Paytm’s (One 97 Communications) share price surged by up to 4 percent, reaching Rs 442, following news that the company is in discussions with Zomato to sell its movie ticketing business. Meanwhile, Zomato’s share price increased by 1 percent, surpassing Rs 188. Both companies confirmed the talks in separate stock exchange filings but did not reveal valuation specifics. According to unconfirmed reports, the deal could be valued between Rs 1,500-2,000 crore.

The power of compounding is a fundamental concept in personal finance that can significantly impact your long-term wealth accumulation. Compounding refers to the process where the value of an investment grows exponentially over time as the earnings on an asset generate their own earnings. This principle is vital for anyone looking to build wealth, save for retirement, or achieve other long-term financial goals. How Compounding Works Compounding works by reinvesting the interest or earnings from an investment back into the original investment, leading to a snowball effect. Over time, this results in the investment growing at an increasing rate because…